Chevron price target raised to $216 from $181 at JPMorgan

JPMorgan raised the firm’s price target on Chevron (CVX) to $216 from $181 and keeps an Overweight rating on the shares. The firm expects the key takeaway from Chevron’s upcoming earnings print to be the fact that the company’s key upstream and downstream profit drivers have largely been restored, which should provide a strong foundation for earnings growth over the balance of the year given robust commodity prices and refining margins. The company’s limited exposure to the Middle East should result in a relatively smaller disruption impact associated with the Middle East conflict relative to peers, the analyst tells investors in a research note.